More And More Insurance Companies Are Giving Back During The Coronavirus Pandemic
LOS ANGELES, CA / ACCESSWIRE / April 30, 2020 / Compare-autoinsurance.org (https://compare-autoinsurance.org/) is a top auto insurance brokerage website, providing car insurance quotes online from trustworthy agencies all over the United States. This website offers car insurance info about different coverage types, available discounts, and money-saving tips.
In order to help their clients, and generally, help the society, auto insurers have begun issuing refunds to auto insurance policyholders in response to dramatic drops in driving as much of the country remains in lockdown. Several insurance companies are leading the way in supporting people and the nonprofits and health care organizations that are fighting against the virus. The following companies provided the most substantial financial support:
USAA and The USAA Foundation committed $2.3 million to donate to military-focused and national nonprofits in addition to the $2.1 million USAA directed to local nonprofits. The aid will go to several nonprofits, including Fisher House Foundation, USO, Tragedy Assistance Program for Survivors and more. Furthermore, USAA auto insurance customers will receive 20% credit on two months of premiums.
Nationwide is donating $5 million to local and national nonprofits to support medical and economic response efforts. The Nationwide Foundation approved $1 million in grants each to the American Red Cross, Feeding America and the United Way, as well as up to $2 million in grants to be distributed in communities where Nationwide operates.
Chubb announced that it is committing $10 million to pandemic relief. The aid will support organizations providing emergency medical equipment and supplies to healthcare facilities and to community foodbanks to support those who have become unemployed as a result of the pandemic. The funding will be made by the Chubb Charitable Foundation.
Farmers Insurance donated $150,000 to the National First Responders Fund to help first responders cope with the post-traumatic stress that can often afflict those who encounter emergencies as part of their profession. The insurer is also providing a 20% monthly credit to customers with business owner's policies for the next two months.
Travelers pledged $5 million to support coronavirus relief efforts in North America, the United Kingdom and Ireland, of which $3.5 million will be donated to charities, and up to $1 million will go to pay the wages and health benefits for eligible third-party contract employees. The company also announced it will match up to $500,000 employee contributions to designated organizations.
The Hanover Insurance Group announced the creation of The Hanover CARES Refund, through which the company will return 15% of April and May auto premiums to eligible personal lines customers. Additionally, the company pledged $500,000 to support nonprofits in local communities, including the United Way, Boys & Girls Club and Chamber of Commerce organizations in Massachusetts and Michigan.
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"During these difficult times, when everyone is struggling, drivers are not left alone. Car insurance companies are offering a helping hand to those drivers who have troubles paying their insurance bills", said Russell Rabichev, Marketing Director of Internet Marketing Company.
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